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ePaper created 2015-05-13, 09:36:17 | version 1.38.0
415.2. Controlling economic earning power / 5.3 Balanced SWOT management 5.2. Controlling economic earning power MEGGLE draws up detailed short, medium and long-term plans. We also take long-term strategies and the short-term effects of volatile markets, changes to underlying conditions and other factors into account. Our multi-dimensional controlling approach, which reviews market movements, sales activities, price fixing, product portfolios, customer and supplier relations, stock management, investments, cost structures, and practically all decisions taken by the company in terms of their commercial impact, is therefore extremely important for the company‘s sustainability policy. MEGGLE is currently introducing an integrated IT system which will allow it to effectively steer the commercial processes throughout the group.This is an investment in the future and our economic earning power. Everything under control 5.3 Balanced SWOT management Anyone wanting to make use of the opportunities available in new or existing volatile markets in today‘s competitive environment needs to invest in product development, market development or production capacities. This requires the courage to take risks, because reliable prognoses are rare and, however enticing the outlook may be, the company‘s existence must never be jeopardised, even in the worst case scenario. This is why MEGGLE operates an IT-supported risk management system so that it can mitigate the risks. The system is used to analyse the risks in terms of total damage and probability of occurrence, and to identify and realise action that will reduce the overall net risk. The risks are as- sessed before (gross), and after (net) risk minimisation action has been taken. All risks are continuously monitored. The situation is reassessed at regular intervals so that the focus remains on the current risks. The big picture